3. Market Data and Market Depth
Tiger Brokers offers clients market data that includes current price information and recently completed trades for each stock, option or futures contract that clients may be interested in trading.
Market data is feed from an Exchange’s trading system to brokers (such as Tiger Trade) and data vendors (such as Bloomberg) who redistribute the data to end users.
Level I market data includes basic price and volume information such as the current highest bid and lowest ask as well as last traded price. The data is converted within Tiger Trade to generate charts.
Level II market data is more complex, because it also shows all bids and offers, not just the facing highest bid and lowest offer. Active traders are interested in this market depth information as it can give a view of the likely short-term direction of the market.